Monday 16 September 2019

Stg£15m for prime Belfast city offices

Obel 68 is part of the Obel Tower development on Donegall Quay
Obel 68 is part of the Obel Tower development on Donegall Quay
Ronald Quinlan

Ronald Quinlan

Offers in excess of Stg£15m are being invited for Obel 68, a 52,000 sq ft Grade A office investment within the Obel Tower development in Belfast city's docklands.

The property, which is arranged over basement, ground and six upper floors comprises 49,860 sq ft of office accommodation and 2,309 sq ft of retail space, with 42 dedicated basement car parking spaces.

The entirety of the office space is currently let to international law firm Allen & Overy until 2031. The ground floor retail space is occupied by the Lagan Boat Company and Mount Charles Group which operates the Fed and Watered café from the premises.

The Obel Tower, which remains the tallest building on the island of Ireland at a height of 85 metres, is located at Donegall Quay and within a short walk of Belfast city centre. The development is also less than a 10-minute drive from George Best Belfast City Airport.

Commenting on the opportunity the sale of Obel 68 represents, Nicky Finnieston, Director of Investment & Retail at Lisney's Belfast office, said: "The growth in the office rental market over the past couple of years combined with the record 270,000 sq ft take up for the first quarter of 2018 provides a compelling backdrop for potential investors.

"The quality of the Obel building, its high standard fit out, its location overlooking the river Lagan and the level of activity around Donegall Quay and Belfast Harbour area makes this an exciting opportunity."

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